| Author (Person) | Fajeau, Maxime, Garnadt, Niklas, Grimm, Veronika, Jean, Sébastien, Kroeger, Thilo, Landais, Camille, Malmendier, Ulrike M., Ochsner, Christian, Paris, Hélène, Philippon, Thomas, Saussay, Aurélien, Schnitzer, Monika, Truger, Achim, Werding, Martin |
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| Publisher | Centre for Economic Policy Research |
| Series Title | CEPR VoxEU |
| Publication Date | 17/10/2023 |
| Content Type | Blog & Commentary |
Summary:The US Inflation Reduction Act, aimed at promoting the production and adoption of clean energy, came into effect at the beginning of 2023. This column assesses the impact of the Act on the European Union (EU). The main conclusion is that the volume of the Act appears small, as will be its aggregate macroeconomic effects, especially for the EU. The EU should focus on rethinking its industrial policy doctrine and, given the sizeable energy price differential with the US, reducing the costs for energy in Europe. |
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| Source Link | Link to Main Source https://cepr.org/voxeu/columns/us-inflation-reduction-act-how-eu-affected-and-how-it-should-react |
| Subject Categories | Business and Industry, Economic and Financial Affairs, Environment, Internal Markets, Trade |
| Subject Tags | Climate Change, Competition Law | Policy, Economic Governance | Situation, Industrial Policy, Sustainable Development, Trade Policy |
| Keywords | Protectionism, State Aid |
| Countries / Regions | United States |
| International Organisations | European Union [EU] |
